Monthly Archives: January 2010

IS YOUR BANK STEALING FROM YOU ????

Let’s get that question behind us. The answer is an astounding, YES!

The banks are stealing and they have been doing it for ages.  Congress makes laws that attempts to keep everyone from stealing, but they also leave loopholes in certain regulations that let banks and insurance companies play by their own rules.

Also those people that issue you your credit or debit card can also charge you almost anything they want to.  There is an attorney in California that is refusing to pay his credit card bill because he has paid his bill religiously on time for about thirteen years and his interest rate on his credit card has just been increased to 28%.   He wrote to them regarding the outrageously high rate, but the bank refused to discuss the matter, so he informed them that he was refusing to pay and has filing suit against the bank because of the unwarranted charges. 

What I can’t understand is why our elected officials, knowing what these lending institutions are doing to us and they continuously permit them to steal from us, the people that put them in office.   What I really don’t understand is why we permit these dunderheads  to stay in office and permit them hand big business everything that they want on a silver platter, while screwing us, the voting public every day and twice on Sunday.

Getting back to the reason I am writing this entry.  On my way home this morning I stopped and got my usual doughnuts.  While in there one of the employees brought up the subject of what the bank had charged her for an eleven cents overdraft.

We all know that banks have free rein on what they can charge their customers.  We all know that what they charge has nothing to do with how much the processing of these bank transactions cost them.  They are just like the insurance companies.  They charge whatever they feel like charging, make a bundle of money and then say they have lost money because their bottom line is not higher than the previous quarter. 

This young lady was, needless to say, very disturbed over being charged $38.00 for being over on her account by eleven cents.  Now this charge was not placed on her account a human hand,  because they could not pay for enough employees to keep up with all of the extra charges a bank makes to customer’s accounts, these charges are automatically added by the computers.  Now let’s think about how much it cost the bank to have their computers to tack on a negative $38.00 to every account, everytime there is an overdraft.  I can understand charging a penalty for overdrafts but make it a fair amount, say, 100% of the overage amount up to $38.00 and then after that a straight $38.00.  But, they would never do that because looking at their way of thinking, charging the larger amount outright is a deterant for making an overdraft.  So banks don’t do as they formerly did and refuse to cash checks that are over the amount you have in the bank.  They don’t return checks to the recipient of that check, they keep it and charge you an outlandish amount.

It is not bad enough that we are being taxed on everything that you can think of, big business is allowed to tack penalties on just about everything that is not taxed.  And then there are surcharges.  If they cannot place a penalty on something, they will put a surcharge on it.  For instant a charge was placed on your baggage when you fly because they say the bag adds weight and that causes the airplane to use more fuel.  If they wanted to charge more to cover the cost of fuel they could have just raised the price of the tickets.  These big businesses are always trying to hide what they take from us.